Unpacking Section 7702: What it Means for You & Your Clients Uncommon Solutions

We take a comprehensive look at the amendment to the Internal Revenue Code’s Section 7702. The change, enacted as part of the Consolidated Appropriations Act, 2021 (H.R. 133), redefines how policies qualify as life insurance contracts under the tax code. It also spells out how much cash can accumulate inside a policy without being taxed. We walk you through what to expect and how to navigate this change for your clients.